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he cannot promise we won't go off the fiscal cliff. speaker boehner says he is doing everything he can to avoid the cliff but acknowledged that there is a chance we will in fact go over the edge. >> thank you. >> shannon: now if the country does go over the fiscal cliff marx worry there could be cutback to entitlement programs like social security and medicare and programs that the government uses to keep you healthy. joinings now, registered nurse and republican congresswoman from tennessee diane black. former california insurance commissioner, democratic congressman john giramendi. welcome to you both. >> good morning. >> thank you for having us. >> shannon: something to keep an eye on the issue of doctor reimbursement fee under medicare. if nothing happens those will drop by 27%. come january 1. we know ra lot of doctors are limiting the number of medicare patients they will take in. if they don't get the numbers up what happens next? >> this is why we need reform over medicare. we know we are not going to cut doctors by 27%. if we were to do that, there would be no access for s
on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with -- see what the speaker has to say. with all this back and forth, a decent amount of speculation that a deal is starting to take shape. look at the reporting from politico and they put numbers to its save a framework looks like this. taxes for revenue would rise by $1.2 trillion. families making them to $50,000 would see higher taxes which we have been expecting and entitlement programs would be cut by $400 billion, most coming for medicare and, quote, end of war savings peter barnes and others reported many times as being dubious because they counted the previous budget you have another trillion plus in cuts. that according to politico is the deal, steve murphy is a former campaign manager for dick gephardt and in d.c. today. from the democratic of view anything i just say or just said sound unreasonable? >> i don't think it sounds reasonable except i don't think it is enough. i don't think either party is being realistic about the enormity of the debt an
to talk specifics about how to avoid the fiscal cliff. house speaker john boehner said there's been no progress in the last two weeks. and the u.n. general assembly voted to recognize palestine as a non-member observer state. the u.s. was one of only nine states voting no. and, you've heard the term "glacial pace"? not exactly, says one director who's scaled enough ice, to know better. hari sreenivasan has more. >> sreenivasan: filmmaker james balog spent years documenting dramatic changes in arctic glaciers. i talked with him about his documentary "chasing ice." that's our science thursday feature. on art beat, digital touchups and tricks are common in photography today. we talk to a curator at the metropolitan museum of art about an exhibit that explores the history of photo manipulation before photoshop. plus, on making sense, economics correspondent paul solman ponders government versus private spending. all that and more is on our website newshour.pbs.org. ray? >> brown: and again, to our >> suarez: and that's the "newshour" for tonight. i'm ray suarez. >> brown: and i'm jeffre
't this work getting done? >> well, just look at speaker boehner's fiscal cliff proposal. three-page letter with three simple bullet points. that's the entire proposal to deal with the fiscal cliff and starts out with the sentence that's remarkable, tamron. first sentence is because the election is a status quo, both sides have to compromise. they didn't see what happened. they just dismissed it as a status quo election and this is not just speaker boehner we eric cantor and paul ryan, kevin mccarthy. the entire house republican leadership signed on to the so-called fiscal cliff proposal letter. they're not serious about negotiating. i don't know the right wing and the tea party of who the republican party is nowadays but it's impossible to have a deal with one side refuses to compromise even after losing. they will not accept their own defeat. >> right. >> and that is the problem. >> a.b. let's play what congressman walter jones had to say on this boehner purge. i have the full screen of what he had to say when several members were removed as identified not being team players. he says, i w
in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to compromise as f
. wall street initially fell after house speaker boehner said there'd been no progress on a fiscal cliff deal. but stocks rose later, on news that the economy grew at an annual rate of 2.7% in the third quarter. the dow jones industrial average gained more than 36 points to close well above 13,021. the nasdaq rose 20 points to close at 3,012. the united nations general assembly voted today to recognize palestine as a non- member observer state. the tally was 138 to nine, with 41 abstentions. the u.s. voted no. it came after palestinian president mahmoud abbas appealed to the world body to issue the birth certificate of palestine. >> we did not come here seeking to delegitimize a state established years ago, and that is israel. rather, we came to affirm the legitimacy of a state that must now achieve its independence, and this is palestine. >> sreenivasan: palestinians said the vote would strengthen their hand in future peace talks with israel. but the israeli ambassador to the u.n., ron prosor, warned that the palestinians are turning their backs on peace. >> for as long as president abb
hand on the fiscal cliff. house speaker john boehner's facing something of a revolt within gop's ranks over his budget plan. we'll have the latest from washington when we come back. >>> talks between the white house and republicans over the fiscal cliff have ran to something of a holt. john boehner dealing with division in the gop's ranks to his bung budget plan. another shanghai surprise. china's mainland market surge nearly 3%. more austerity. plus, austerity measures are hitting european consumers. retail sales in october fall much more than expected. september also revised sharply to the downside. >>> it was a flat day really for european stocks, slightly negative for u.s. stocks yesterday. we are a little bit higher. the dow is currently some 43 points above fair value. the nasdaq is around four points above fair value. the s&p 500 at the moment is around about four points above fair value. european stocks are up half a percent earlier. we have come off those highs. eurozone pmis a little bit better than expected. but still deeply in contraction territory. uk services pmis dipped
the democrats of not offering any serious proposals to avoid going over the fiscal cliff and shortly after the white house and the democrats answered that the republicans had not offered any of their own plans. is this something that's going to be able to be taken care of while you're still a representative or is it going to land in your lap when you move to the other chamber? >> you know, i hope we get it done, obviously. we want to avoid the cliff. it is a little troubling that we don't have any real plans or oers on the spending side. i think on the revenue side it's pretty clear by knew republicans are willing to give up more revenue, but we've got to see a balance. there's got to be spending cuts and if those have been offered, i'm not sure what they are. >> suarez: are you one of those members who's staked out a position on whether it has to be rates or effective revenue and not rates? >> well, i think it can be effective revenue. obviously it depends on where you put the level of deductions that can be taken. so i'd rather not raise rates at all. i think it can be done without that.
boehner and in the white house, folks like this in washington using the term fiscal cliff, it takes to become a reality and take on language of its own. >> eliot: it seems to me that there is an element of hysteria being created and used by some folks. you have fix the debt coalition that is pounding away at this terror, and then you see cmbc and this business interest. then they come in and ask for a huge cut in corporate taxes. one doesn't follow the other. is this an element of a trojan horse being used by folks to ramp up hysteria, and then get policy changes that aren't even related to the issue they're talking about? >> yeah, the real issue that folks need to keep their eye on is the topic of tax reform. a broader tax reform. it's unclear whether we'll see that as part of the deal that happens before the so-called fiscal cliff and fiscal slope by the end of this year or in 2013, but we could see real corporate tax reform, possibly lowering in this year or next. these things can get lost in the details when folks are talking about the bush tax cuts and medicare and medicaid and
'm ready to throw the fiscal cliff off a physical cliff. >> eliot: if i see john boehner give the same speech. >> john boehner, they voted for it in 2008 and again in 2012 john boehner making a fuss on this is like the man who lost lotto and still demanding
proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday. >> we've wasted enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. so i have no other particular observation than i commend the house republican leadership for trying to move the process along and getting to a point where hopefully we can have a real discussion. >> but why is the the gop still hot on its desire to raise money through cuts and deductions rather than an actual increase in the top end tax rate? well, i think it's likely because the most ductions in states happen to be the higher blue states. in other words, the gop wants the states that largely reelecte
obama and speaker boehner talked about the fiscal cliff. it was by phone. both sides agreed that they would not talk about the details. what we do know is that it has not led yet to any major breakthroughs. we want to get to congressman steve latourette, republican from the state of ohio. he is leaving congress, decided not to run for re-election, citing gridlock as a big reason why. we appreciate your time with us this morning. >> thank you. >> can we start with syria first before we get to the fiscal cliff? we know that there's this red line that hillary clinton has talked about. but nbc news has reported that syria is loading chemical weapon components on to bombs, which could -- makes us think, well, what's the next step? to what degree does this mean military action for the united states? >> couple of things, the nbc report is unconfirmed. the other piece of news is that the secretary is expected to meet with the russian foreign minister in dublin, i believe, and talk specifically about getting the okay to put in place economic sanctions that would cripple the syrian go
of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't say all this to speaker boehner. he said it in an interview on bloomberg tv. the last time the two men spoke was almost a week ago. president obama is focused on the stalemate with congress over averting the fiscal cliff, but he's just not talking to house republicans about it. at the white house, he discussed the issue with a bipartisan group of governors. >> i know that the president wants a deal and he didn't try to handicap it. >> reporter: earlier this week, he told so-called middle class americans on twitter, keep pressure on congress. he
. >> reporter: on his first view sbr interview on the fiscal cliff, he rejected john boehner's proposal. >> unfortunately the speaker's proposal is out of balance. >> reporter: raising taxes on households earning more than $250,000. >> we'll have to see the rates on the top 2% go up. we're not going to be able to get a deal without it. >> reporter: republicans want smaller tax increases overall and no movement on higher income tax rates. they want to cut unnamed tax bre breaks and deductions, which they say will do more to boost economic growth. the white house considers the proposal and economic rationale behind it laughable. >> we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> reporter: republicans answered back ba-humbug. >> this is absolutely not serious and the administration knows it. >> reporter: six governors, three from each party, met the president and said acid they believe business leaders in their states won't invest and hire until a deal gets done. >> until this gets resolved in a way that's not
the looming fiscal cliff. but not to each other. the president was making his case on the road while boehner was dismissing the white house proposal as a joke. cnn senior congressional correspondent dana bash joins us live from the capital. dana, what's the latest? >> reporter: well, joe, it turns out he laughed at geithner when he proposed the white house package which includes $1.6 trillion in tax increases. instead, today mcconnell floated to "the wall street journal" the idea of revenues by medicare and eligibility age, but democrats are very dug in. they say anything that doesn't include tax increases on the wealthy is a nonstarter. a day after getting a white house proposal the republicans greeted as a joke, they're not laughing. >> now, the white house took three weeks to respond with any kind of a proposal and much to my disappointment it wasn't a serious one. >> reporter: house speaker john boehner rushed to the cameras to respond to the president's campaign-style event at a suburban philadelphia toy factory where mr. obama tried to rally support for maintaining the bush-era tax rat
critical republic who criticized house speaker john boehner over own party fiscal cliff honor says is he resigning. an important man, too. south carolina senator jim demint a key force behind the tea party movement. the founder of the tea party caucus in the senate and who predicted that the healthcare debate would be president obama's water loo. remember that? earlier this week he argued that speaker boehner's proposal tax hikes would destroy jobs. but senator demind says his resignation has nothing to do with the fiscal cliff. it's because he has accepted a job as president of the conservative think tank the heritage foundation. jim demint served three terms as a u.s. congressman from south carolina before voters first elected him to the senate in 2004. mike emanuel is on capitol hill tonight. it's a big resignation,. >> jim demint says is he leaving the senate, shep he is not leaving the fight. in fact, demint might be able to spend more time on issues he is most passionate about at the heritage foundation. he explained his thinking on "special report" a short time ago. >> i think i'm
, and mitch mcconnell laughs, and boehner says it's terrible. there's a fiscal cliff, and this offer isn't good. show me the money, folks. you have the power. you're bragging about the fact that you kept the house. good. show us your offer. put down your offer. now, here's my view on this. and it is the same as the president's in this respect. rough the biggest aspects of the fiscal cliff is the fact that tax rates are going to go up on all americans. the senate has passed a bill that would give the middle class 98% of the people their tax cut. it is done. it's in a package. it's sitting at our desk. and all that has to happen is for the house to take it up. the only reason they're not taking it up is they want millionaires and billionaires to get their taxes cut, too. and this was a big issue in the campaign, thomas. so why don't we, instead of throwing insults, why don't they just pick up and pass that part as their own republican, tom cole suggested, let's have some good faith here, and we'll hammer out the rest of it. >> so senator, one thing you say about show me the money, if we ta
's comments on the fiscal cliff were a huge favor to speaker john boehner. >>> plus, our news nation gut check. this congress is on track to becoming least productive class since the '40s. do you think the next congress will get anything more done? check us out on our news nation tumbler page. you'll find behind the scenes pictures you're looking for. newsnation.tumbler.com. [ female announcer ] a classic meatloaf recipe from stouffer's starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. >>> president obama and mitt romney met today for a private lunch at the white house. their first meeting since they traded barbs in a contentious election. romney has been keeping a pretty low profile in the three weeks since the election. he has made no public appearances. there you see him. unlike losing candidates in the past, he had no job in washington to return to. nbc's kristen welker live at the white house. let's get into this. the
john boehner yesterday talking about the fiscal cliff declaring that a stalemate now exists. as both sides dig in their heels. the gop demanding entitlement cuts in exchange for revenue. nancy pelosi, meanwhile, threatening to take action to enforce a vote on extending middle class tax cuts if republican leaders don't bring it to the floor next week. want to bring in democratic congressman peter welch from vermont. congressman welch, always a pleasure. let's talk -- >> thank you. >> let's talk about entitlements here. are you willing to put entitlements on the table if republicans agree to more revenues through tax increases on the wealthy? >> yes. and the president is, too. essentially the president has made an opening offer. $1.6 trillion in new revenue from the top 2% and about $400 billion in medicare savings over the course of the next ten years. now, the next move, actually, is speaker boehner's counteroffer, whatever that may be. he has a very tough position and my view, the speaker understands that mitt romney, who ran on the platform of not raising taxes lost and the speaker
stories. >>> president obama and house speaker john boehner chatting by phone about the fiscal cliff. no details or word of progress or future talks with just 26 days remaining to get a deal done. another prominent republican is breaking ranks. tom coburn, a leading conservative and fiscal hawk saying he'd prefer raising taxes on the wealthy as a way to raise revenues. >>> a bitter turf war between twitter and instagram elle cl escalating. no one on twitter will be able to see the images posted on instagram. instagram's goal is getting people to post more photos on their site. >>> a man cannot have any more children until he shows proof that he can actually afford those children. 44-year-old corey curtis is charged with failure to support two of the nine children that he's fathered with six women. he owes $85,000 and says he is ready to abide by the judge's order. >> good idea. >> all right. the grammy nominations announced in style with a star-studded concert, jay z and kanye west were among the six artists tied for the most nominations, six apiece. the grammy awards ceremony, music
for the middle class. >>heather: thank you. >>gregg: from the fiscal cliff to will i don'ting the debt ceiling speaker boehner disagreeing with president obama under the white house proposal. the president would have the power to raise the debt limit on his own, whenever he wants, as needed. speaker boehner saying congress isn't budging on that issue and here is what he had to say on fox news sunday. >> congress will never give up the power and i made it clear to the president that when we get to the debt limit we need to cut some reforms that are greater than the increase in the debt limit. it is the only way to leverage the political process to produce more change than if left alone. >>gregg: you can see more of the remarks on "fox news sunday" at the top of the hour. >> extreme weather on the west coast flood advisories in effect for storm ravaged parts of northern california as another storm bringing heavy rain and police and fire officials wanting the napa and russian rivers expected to break their banks. and now, streaming live from northern california. >>reporter: yes, the banks are abo
speaker, john boehner, both expressing optimism on those fiscal cliff negotiations in washington. the dow rallied 100 points yesterday off of those comments. how many times have you heard me say congress will mess it up. >>> goldman sachs ceo met with the president and others yesterday for those fiscal cliff talks. listen to what he told wolf blitzer when asked if taxes should be raised on those making more than $250,000 a year. if that's what it takes to make the math work when you look at entitlement side and revenue side, i wouldn't preclude that. of course we would have to do that if the numbers drive that way. >> he said america can't afford itself right now the way we're going. fiscal cliff talks today continue with geithner making the rounds on capitol hill. later this morning, third quarter gdp expected to be revised higher. economists expect gdp for july to september to be revised from 2% to 2.8%. that would be good news. this is still modest growth. everyone hopes that next year will be a better year than this one in terms of growth. you want to see more than 2.5% growth consist
that if this is not good enough for the white house, we will go over the fiscal cliff. >> the white house rejects a republican counter offer. >> john boehner sent a proposal that offers more than $2 trillion in deficit reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >> according to state tv iran's revolutionary guard captured a u.s. drone after it entered the iriranian air space over the persian gulf. >> but u.s. navy official says there are no missing drones. >> prince william and his wife katherine, expecting their first child. >> after the duchess was admitted to hospital. >> that child could grow up to be one of the most powerful unemployed people in the world. >> a search is under way in new york for a man accused of pushing another man to his death in the subway. >>> rg3, he made opportunities. >> 17-16 washington redskins. >> all that -- >> why don't you shut up? >> you are an embarrassment. >>
television moments ago, getting parts of this interview says speaker boehner's proposal on the fiscal cliff is still out of balance. that is a quote the president has given about the letter and the proposal that you sent to capitol hill. realistically, when do you need to get a deal done to avoid the country from going off the fiscal cliff? know there is limited days. >> yes. jenna: when does an actual deal have to be done so it gets through those logistical processes we know need to be done in both the house and the senate? >> the sooner we can get a deal the better. speaker boehner, as i said, he, the day after the election, said, okay, we'll put tax revenue on the table. let's start the negotiations. you know this can be done. president reagan and tip o'neill back in the early '80s, they negotiated a deal to save social security and address tax reform and the other entitlement programs, the spending --. jenna: if i could. reagan famously said trust but verify. >> yes. jenna: why should we trust you? why should we trust lawmakers in office now they can do this? >> because i would say we'r
respondespo -- >> today, president obama and john boehner spoke by phone about the fiscal cliff negotiations, but there is no progress. they still have a stand off over the rates. the president still wants to raise rates on the top 2% of americans. the speaker is not moving on that position. this comes on the same day that secretary geithner made it clear in language they have not used before, just how far they're willing to go in the administration to stand by those terms. >> is the administration prepared today go over the fiscal cliff? >> absolutely. there is no agreement without those rates going up on the top 2%. and they all get a tax cut on the first $250,000 of their income. >> reporter: so wolf, it's a step forward that they're talking, but in essence, where we stand right now, it's still a stalemate. >> any indication that the vice president, secretary of treasury, others are talking with top people on capitol hill? meeting face to face and going through these items line by line? >> reporter: my understanding is that the white house is not going to start negotiating the details unt
pushed into political relevance. >> yes, for example, the fight over the fiscal cliff is taking place between speaker boehner and the white house. they put republicans in the senate in a rare type of position where they are in the game, but they are not the leaders of the game. see what is going on in the senate in general. we're republicans should have the majority of the senate, if not highly ontological candidates were nominated by the party base. thinking of someone like richard murdoch in indiana. there's no reason the democrats should not hold that seat. they are putting republicans in the senate at a disadvantage. >> the other thing is that ted cruz is a tea party candidate, marco rubio is a tea party canada. [talking over each other] [talking over each other] >> there are mistakes made. there are good choices made. i'm just saying there is a capacity to make that choice and those that are good communicators of a conservative vision. greg: i was looking at some of the most recent polls, and it looks that republicans will get the blame if we go off the fiscal cliff. is that how
comments made by president obama and house speaker john boehner, both expressing optimism on fiscal cliff negotiations in the washington. in a new report from the congressional budget office it says more than half a trillion has been spent on jobless benefits over the past five years. $520 billion in jobless benefits in five years. also part of the debate, whether to extend the deadline to file for additional unemployment benefits beyond the end of the year. spending on food stamps is rising. nearly 15 million households received food stampses in 2011, up 10% from the year before according to new data from the census bureau. it shows you the far reach of the government right now in the safety net in supporting american families. all of that at the core of the debate of what's happening with the fiscal cliff. >>> $7 coffee. starbucks thinks you will pay. coffee connoisseurs can pay $7 for a grande cup of costa rica fincapalamara. it's called mucho deneiro. cultivated from a central american bean known as geisha. it is extremely difficult to produce. the same america who spends $7 on lotter
vance. tonight, president obama issued yet another warning to republicans, do not use the fiscal cliff to start a fight over the debt ceiling. the u.s. could reach its debt ceiling by the end of the month, and risk defaulting on its loans early next year. house speaker john boehner today said, quote, we don't have time for the president to continue shifting the goal posts. we need to solve this problem. danielle lee now joins us from capitol hill with more on this story tonight. danielle? >> reporter: jim, good evening. we're just now learning that president obama spoke to house speaker john boehner by phone this afternoon. but we're not hearing of any progress on avoiding the fiscal cliff or on raising the nation's debt ceiling which is currently at $16.4 trillion. there are new concerns about what could happen to the country's credit rating in the new year. each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limit. president obama talked to business leaders today. >> the only thing that the debt ceiling is good for as a weapon is to
the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his party, the conservative part that doesn't want him to act like he is moving and that is who he is talking to today? >>reporter: they want him to dig in. they want him to completely resist essentially going back to the old clinton administration tax rates of 39.6 percent on the top level. the bottom line when you ask about whether there is any progress there are signs of progress from the white house briefing and carney today said the president said in this phone call to speaker boehner, any deal has to have the rates going up but in the end, carney said it doesn't necessarily, he didn't say this directly but suggested it doesn'
. margaret brennan, thank you noor. >>> in washington this morning, just 26 days left before the fiscal cliff deadline. president obama spoke on the phone with house speaker john boehner on wednesday while his treasury secretary said the white house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal, the two key players yesterday picked up the phone. the phone call relatively brief and substantive, though details remain illusive. shorter, sources say. the last week 28-minute conversation described then as curt, direct and frank. no one with this call used such barbed words and occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >
a major hit if, in fact, the nation goes off the so-called fiscal cliff. his spokesman jay carney was even tougher in going after speaker john boehner's latest proposal in saying it simply doesn't add up. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> the bottom line is the president and speaker boehner have not spoken now in several days. so there is really no signs of progress. there has been some discussion that look that's just happening in public. behind closed doors maybe they are gaining some ground, i have spoken to some top white house officials tonight some top republicans on the hill they say in private they are not making progress either, shep. >> shepard: republicans say they have offered some compromises. >> they have in the sense that speaker boehner with his policy late yesterday put $100 billion in new tax revenue on the table. that was a concession by him but not far enough as you noted for the white house because the white house wants him to not just raise tax reve
they caused in the phone call as the country barrels towards the fiscal cliff. with no talks and no progress to avert the looming fiscal cliff, you could say the house has left the building, streaming out of the capitol. tomorrow's session cancelled. with only three work days left this year, they are often criticized. just 16 votes. across the country, rising frustration, americans asking why the holdup. and what will their taxes look like in 2013. >> maybe instead of getting my sister two things, you give one thing, you have to give pause on what could happen next year. >> reporter: today, president obama and house republicans are locked in a politicalstair staredown. >> we can probably solve it in a week, it is not that tough, we need that breakthrough that says we need to do a balanced plan. >> although the president seems obsessed about raising taxes on you, we feel it is not the right direction to go. >> reporter: it comes down to a tug of war over taxes. the president's proposal, increasing rates on americans making more than $250,000, to raise 1.6 trillion over a decade. house speaker
speaker john boehner held his own meeting on the fiscal cliff negotiations. this is close do 10 minutes. >> good afternoon, everyone. the president traveled to pennsylvania to visit a small business today to talk about the fiscal cliff. unfortunately, it's the president and members of his own party who were proposing that we let many small businesses, as in hundreds of thousands of them, go over the fiscal cliff. simply put, that's why we don't have an agreement as yet. they said yesterday this is not a game. i used to be a small business owner. small business owners are regular men and women from all backgrounds who, in today's economy, are facing challenges on a daily basis. and the president's tax increase would be another crippling blow for them while doing little to nothing to solve the bigger problem here, which is our national deficit and our national debt. this debt doesn't exist because we don't tax small businesses enough. it exists because washington continues to spend too much. raising taxes on small businesses instead of taking a balanced approach that also cuts spending is
the battle over the so-called fiscal cliff. that's the combination, of course, of spending cuts and exexpiring tax breaks set to kick in about a month from now. economists say it could cause another recession. today, the president visited a toy factory in pennsylvania to make his case for his plan. he is asking americans to pressure congress to extend tax cuts for the middle class right now. in fact, extend tax cuts for everybody for the first $250,000 of income. so the families won't have to worry about a new year's day tax hike. republic leaders say letting the tax cuts expire on income of more than $250,000 would hurt small businesses and, as they call them. job creators. let's get to ed henry who is with us from the white house tonight. president says the election proved most americans are on board with this plan. >> that's right. he, without using the word thinks he he basically has a mandate. even though the election is over, he is out campaigning for this again because he thinks there is a dead lock here in washington and he wants to break it with pressure points from the
and the prospects apparently of any sort of deal about what to do about this fiscal cliff we've been talking so much about and balance between revenue growth and spending cuts. speaker boehner is saying that there is a lack of recognition in his opinion by the white house about how serious the spending problem that we do have in this country. he wants the spending cuts on the table. charles payne is with us from the fox business network. he is ceo of w street.com. not specific about what spending cuts and where they would come from, charles. in an ideal world where would we cut spending? >> in ideal world you cut spending and sacred cows. it would have to be medicare, social security and medicaid and it would have to be series of reforms made. now listen, we've seen this has gone on for a long time, jenna. the notion that perhaps we would do dramatic tax increases now with the promise of spending cuts 10 to 20 years down road, i'm sure that was the first salvo but republicans certainly drawn a line there. because that never materialized. the general public knows this. i think the stock market knows
to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a balanced responsible approach to deficit reduction that can help give businesses
at the fiscal cliff and we look at john boehner and you're right, he did give up revenue. he said okay. i'm going to cave on that. we'll raise revenue. but the president has been absolutely adamant, i'm not budging unless the top 2% pay a higher rate. not just revenue, a higher rate. >> the top 2% will pay higher taxes because of the revenue rates that we will raise without raising the tax rates. once you raise the tax rates, they become permanent. you can't change them. it will be almost impossible to change them and of course, that affects, like i say, almost a million small businesses and about 700,000 jobs. that's what the american people aren't getting from the debate on this subject. frankly, it is a bait and switch because the president has put out a plan that even democrats won't support that literally will not work, that literal israeli going to cause even more spending than we have right now, and put us even more than the 16 trail, $300 billion debt that we're incurring, going up every day. >> steve: senator, for generations, americans have always tried to make sure that our chi
will go over the fiscal cliff come january 1st, one theory, will make it easier for john boehner and republicans for that matter to vote for higher taxes on the healthy. in other words they would be voting to cut taxes for 98% of americans while allowing them to stay where they are. because remember, after january 1st those bush tax cuts expire. they rise for everybody. again, there are conspiracy theories everywhere. you saw the hardball offer put forward by the white house late in the week on thursday when tim geithner went up to congress and presented it to republicans. mitch mcconnell laughed out loud. $1.6 trillion in new revenues. only $600 billion in cutting spending. this is not what.republicans had in mind. but john boehner can rail against it which will make it easier for john boehner to sell to his conference. i think it's far fetched. i don't think either of these men, president obama or john boehner, want to see this country go off the fiscal cliff. there's obviously too much at stake not only politically but for the lives and welfare of americans. i think that's for
that are necessary to avoid the cliff, here's how house speaker john boehner described the status there. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: what set off this reaction was the president's proposal for $1.6 trillion in new taxes over ten years with tst of that coming from a tax hike on single americans making hire than $200,000 and married couples filing jointly making $250,000. boehner has hinted that republicans might raise half of that, $800 billion, but only by reducing tax loopholes. >> getting rid of special interest deductions and not raising rates we think is better for the economy, pure and ecole. >> reporter: there is also a gap on spending cuts. yemocrats say they've already agreed to cut one trillion dollars from future spending, republicans, including majority leader eric cantor, responded with this: >> all of a sudden they're asking for $1.6 trillion in tax hikes and nowhere near that number in spending reforms. >> reporter: democrats are angling to raise taxes on the rich now and negotiate tax reform and spending
for troops and their families. >>> this morning, signs that there may actually be movement on the fiscal cliff talks. kayla is live with that. >> reporter: a little bit of movement potentially. president obama and house speaker john boehner spoke by phone yesterday as democrats and republicans continue to dig their heels in over this budget standoff. there's been no announcement of any new face the face talks as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple
the so-called fiscal cliff. that steep across the board spending cut and tax increase scheduled to hit in just 33 days. in a scathing assessment today, the speaker of the house john boehner says there's been no substantive progress on a deal. need to realize there can be no deal without tax rates going up for top earners. let's go live to our chief white house correspondent jessica yellin. she's got more on the latest developments. tough talk from both sides, jessica. >> reporter: tough talk and some bright lines, wolf. on the same day that treasury secretary tim geithner went to capitol hill to meet with both democrats and republicans to talk about these negotiations, there is tense body language and tough words on both sides of pennsylvania avenue. they're starting to sound dug-in on capitol hill. >> all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. >> reporter: at the white house. >> this is available not just here but to everyone in the world who has an internet connection. and i know things are done the old fashioned way sometimes on cap
will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
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